There is no guarantee´s in this market as a whole.
Will bitcoin prove it´s worth over time or not? The potential is here, but there is so many things to consider and to reflect on. For now bitcoin, even after 10 years, which is short, compared to how long our "modern economy" has been existing, bitcoin is driven by pure speculation. Well you can say other financial instruments or assets such as stocks, currencies and property also gets speculated upon. Well surely they do, but the difference is the volatility and how little a market share bitcoin makes up in the global economy in its entirety, which is simply nothing. So in that perspective, BTC and the crypto market as a whole can grow largely, it´s only a matter of trust. Can we build a trustless network, with no bottlenecks, threats of being overtaken, smashed and bashed. Can crypto adapt to a paradigmshift in a Quantum computational realm. So many questions and such few answers.
My ten cents is look at the big picture and dont be fooled. From a trader standpoint, we are in a uptrend from a december 2018 perspective where the price of BTC hovered around 3k. But if we look at the trend as of lately we will find that the uptrend is in a bear state. We have since july 2019 only made lower lows. If the trend is not broken, we might see a drop back around 7k. And with these low volumes and sideways actions, the market is truely feeling the fear and doubts.
Don´t buy in, we might see an immense drop. A retest to 6k or even 3k is plausible.
The 20k run in 2017 was a fluke, especially taking everything in consideration of the BTC infrastructure.
There is no doubt BTC and crypto has a big value, but it´s hard to value it in fiat (For now).
Don´t buy the hype. Have patience and the oppertunity to buy lower will come.
We are still in a hype train, the ghosts of 2017 is still alive. People thinking with emotions, thinking at the peak of 2017. It´s dangerous.
Be smart. Let the crypto market have it´s "real fall". Just like with any other market, a market so young, will have it´s real crash and thats where it will stand it´s test of time. The crash hasn´t been here yet. We have had cyclycal crashes and uptrends. But no real depression, a real fall where every single hope has been spilled. But these times is where innovation is coming to fruition. Suddenly when everything is scilenced and forgot a phoenix is born. We are not even close to this point. Don´t rush!
Happy trading guys..
Will bitcoin prove it´s worth over time or not? The potential is here, but there is so many things to consider and to reflect on. For now bitcoin, even after 10 years, which is short, compared to how long our "modern economy" has been existing, bitcoin is driven by pure speculation. Well you can say other financial instruments or assets such as stocks, currencies and property also gets speculated upon. Well surely they do, but the difference is the volatility and how little a market share bitcoin makes up in the global economy in its entirety, which is simply nothing. So in that perspective, BTC and the crypto market as a whole can grow largely, it´s only a matter of trust. Can we build a trustless network, with no bottlenecks, threats of being overtaken, smashed and bashed. Can crypto adapt to a paradigmshift in a Quantum computational realm. So many questions and such few answers.
My ten cents is look at the big picture and dont be fooled. From a trader standpoint, we are in a uptrend from a december 2018 perspective where the price of BTC hovered around 3k. But if we look at the trend as of lately we will find that the uptrend is in a bear state. We have since july 2019 only made lower lows. If the trend is not broken, we might see a drop back around 7k. And with these low volumes and sideways actions, the market is truely feeling the fear and doubts.
Don´t buy in, we might see an immense drop. A retest to 6k or even 3k is plausible.
The 20k run in 2017 was a fluke, especially taking everything in consideration of the BTC infrastructure.
There is no doubt BTC and crypto has a big value, but it´s hard to value it in fiat (For now).
Don´t buy the hype. Have patience and the oppertunity to buy lower will come.
We are still in a hype train, the ghosts of 2017 is still alive. People thinking with emotions, thinking at the peak of 2017. It´s dangerous.
Be smart. Let the crypto market have it´s "real fall". Just like with any other market, a market so young, will have it´s real crash and thats where it will stand it´s test of time. The crash hasn´t been here yet. We have had cyclycal crashes and uptrends. But no real depression, a real fall where every single hope has been spilled. But these times is where innovation is coming to fruition. Suddenly when everything is scilenced and forgot a phoenix is born. We are not even close to this point. Don´t rush!
Happy trading guys..